News coverage. We begin today with the dow up about 700 points now as youll see in a moment. It has been a whip saw day for wall street as virus fears loom. The dow dipping below 20,000 but zooming back as much as 1,000 points as the Federal Reserve and the Administration Step in to calm investors. Health Care Companies are targeting the virus from treatment to Testing Solutions there you see it up. The ceo will join us this hour here is what you need know. Theres more than 5600 confirmed cases of coronavirus in the u. S. Marriott will furlough tens of thousands of workers as the hotel giant shuts down locations. We have coverage of this today we have more on the white house plans here bob is watching the market seesaw steve is all over the latest move from the Federal Reserve. Ka kayla, lets start with you. Reporter were waiting comments fr comments from capitol hill the rough contours were about 250 billion for Small Business loans and about 500 billion for a payroll tax cut. It appe
Jpmorgan, goldman, the xlf. Financial are just ripping. The pharmaceuticals have done pretty well. All the stuff i hear about small caps are the place to be with tax reform. Right. You keep hearing that. Why not the big guys . Why not i agree with you looking across the desk, most of the people sitting on this desk right now have huge exposure to some of the bigger cap stocks whether its jpmorgan or citi or bank of america, you name it across the board, scott, what are we seeing, the transparency of the fed and in front of the fed so we have a sense of what the fed is most likely to do and the baton being passed off to powell look at volatility i know we bring it up all the time, burks scott, the ability for people with a nine and change volatility, think of the protection you can have for employees to be able to ride along with this, whether its the s p and dow, going to the small caps, obviously going to the iwm, Something Like that, but, scott, technology and the rotation that weve
Welcome, everybody. Congress approved the most sweeping overhaul of the u. S. Tax code in decades. Altering the finances for businesses big and small and households across america. The rewrite is the biggest legislative achievement for republicans since they gained control of the white house and both chambers of congress. The Senate Passed the measure overnight. The house passed it again after a snag that we told you about yesterday forced another vote today. Its been an amazing experience, i to tell you. Hasnt been done in 34 years. But actually really hasnt been done because we broke every record. Its the largest i always say the most massive but its the largest tax cut in the history of our country. And re the president hasnt signed the bill into law quite yet. And he may wait until january. The timing depends on the outcome of separate ta speaking of which, agreeing to a spending bill is the next legislative challenge. And lawmakers only have a few days to do it or risk a governmen
Jumping into the bitcoin game wall street legend art cashin has a bitcoin prediction for 2018 well tell you what it is in a couple minutes cant wait for that. Plus the question Everyone Wants answered, will my taxes go down because of this bill . We got a Financial Adviser who breaks down the impact of the tax reform bill coming up in a little bit. We begin in washington today, lawmakers are expected t vote in a little less than two hours on the legislation to keep the government from shutting down lets get right to Kayla Tausche for the very latest right now. Kayla . Reporter bill, theyll vote on the houses version of thereat legislation that was published overnight. It would be a shortterm extension of government funding at current levels through january 19th, as well as funding for some critical programs like Childrens Health insurance. And the fisa surveillance program. In addition, the house is going to consider an 81 billion Disaster Relief bill theyve been debating that as well
Stocks near their session highs. 1, 2, 3 all, and its really in the bond markety yields are, yes, soaring today much the twoyear note, highest levels, five years at its highest level since 2010, and the tenyear at its highest level since july of 2014 at 2. 65 meantime ge going the other way, down below 16, lowest levels since december, theyre moving the etf that mimics them, hitting a new multiyear high more on the m a that is fueling this group thats ahead brian . Thank you, tyler. Another rough day for bitcoin, it is down nearly 7 , more what is fueling that slide and where the cryptos go from here the imf raising its Global Growth thanks in part the agency expecting the world some i to grow 3. 9 this year that was up from previous estimates. More proof perhaps that the death of retail has been greatly exaggerated. Shares of teen retailer abercrombie and fich soaring after it raised its outlook. We begin with the government shutdo shutdown a key vote in the senate expected shortly Ka